Project update

Update from ht eoriginator: 

With regard to the "Trabeninger Straße" project, the originator can inform you that the managing director and owner of the project company has signed a declaration of acknowledgment of debt. As a result, there is no need for the claims from the subordinated loan agreement to be asserted in court, since the acknowledgment of debt is a directly enforceable title.

In the meantime, all the apartments on Trabeninger Strasse have been sold and the funds are in a trust account until the keys are finally handed over to the buyer. The purchase contracts for the apartments are available to the originator in this regard.

We were also informed that the repayment should take place by mid-May at the latest, whereby if this date is not met, the declaration of acknowledgment of debt will be drawn.

Update from the originator:

WSM Projekt GmbH, the issuer of the "Trabeniger Straße" project, informed the originator today that the originally planned repayment date of March 13, 2023, cannot be met and the originator was given the prospect of repayment of the project by the end of April 2023.

The annual interest has already been instructed, which the originator will send in the next few days.

As soon as the originator has new information, the originator will let you know.

The issuer apologizes for the delay and any inconvenience this has caused.

The update from the originator: 

the project is currently running according to plan. At the beginning of the new year, the interior work (tiles, floor coverings, etc.) will begin, and the apartments can be handed over in spring. 

All eight residential units have already been successfully sold, and the issuer expects the loan and interest to be repaid as planned.